Rein Therapeutics (NASDAQ:RNTX) Stock Price Down 2.9% – Should You Sell?

Shares of Rein Therapeutics Inc. (NASDAQ:RNTX) were down 2.9% during trading on Monday . The company traded as low as $0.7593 and last traded at $0.7940. Approximately 398,835 shares traded hands during trading, a decline of 12% from the average daily volume of 453,314 shares. The stock had previously closed at $0.8175.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. HC Wainwright reduced their target price on Rein Therapeutics from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Weiss Ratings upgraded Rein Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, August 3rd. Maxim Group initiated coverage on Rein Therapeutics in a report on Monday, July 20th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, Wall Street Zen raised Rein Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.00.

Rein Therapeutics Price Performance

The firm’s 50-day moving average price is $0.90 and its 200-day moving average price is $1.15. The company has a market cap of $67.92 million, a price-to-earnings ratio of -0.42 and a beta of 1.39.

Rein Therapeutics (NASDAQ:RNTX) last posted its earnings results on Friday, May 15th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.30. On average, sell-side analysts anticipate that Rein Therapeutics Inc. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Voss Capital LP boosted its position in shares of Rein Therapeutics by 59.2% in the fourth quarter. Voss Capital LP now owns 4,243,969 shares of the company’s stock worth $4,923,000 after buying an additional 1,577,437 shares during the period. Gagnon Securities LLC raised its holdings in shares of Rein Therapeutics by 5.0% during the 4th quarter. Gagnon Securities LLC now owns 240,220 shares of the company’s stock valued at $279,000 after buying an additional 11,528 shares during the period. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Rein Therapeutics by 901.6% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 262,125 shares of the company’s stock valued at $304,000 after buying an additional 235,954 shares during the period. Rock Creek Group LP acquired a new position in Rein Therapeutics during the 4th quarter worth approximately $116,000. Finally, ABS Direct Equity Fund LLC purchased a new position in Rein Therapeutics in the 4th quarter worth approximately $145,000. 90.89% of the stock is owned by hedge funds and other institutional investors.

Rein Therapeutics Company Profile

Rein Therapeutics is a clinical-stage biotechnology company focused on developing novel immuno-oncology therapies for patients with solid tumors. The company’s core technology is a tumor-activated interleukin-12 (IL-12) prodrug platform, designed to confine cytokine activity to the tumor microenvironment and thereby enhance anti-tumor immunity while minimizing systemic toxicity.

The lead candidate, RT-101, is currently in early-phase clinical trials targeting multiple solid tumor indications, including head and neck cancer and non-small cell lung cancer.